{"id":118339,"date":"2021-07-16T16:14:27","date_gmt":"2021-07-16T16:14:27","guid":{"rendered":"https:\/\/fin2me.com\/?p=118339"},"modified":"2021-07-16T16:14:27","modified_gmt":"2021-07-16T16:14:27","slug":"u-s-consumer-sentiment-drops-in-early-july-on-inflation-fears","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/u-s-consumer-sentiment-drops-in-early-july-on-inflation-fears\/","title":{"rendered":"U.S. consumer sentiment drops in early July on inflation fears"},"content":{"rendered":"<ul>\n<li>U.S. consumer sentiment fell sharply and unexpectedly in early July to the lowest level in five months as inflation worries dented confidence in the economic recovery, a survey showed on Friday.<\/li>\n<li>The University of Michigan said its preliminary consumer sentiment index fell to 80.8 in the first half of this month &#8211; the lowest since February &#8211; from a final reading of 85.5 in June. Economists polled by Reuters had forecast the index would rise to 86.5.<\/li>\n<\/ul>\n<p>U.S. consumer sentiment fell sharply and unexpectedly in early July to the lowest level in five months as inflation worries dented confidence in the economic recovery, a survey showed on Friday.<\/p>\n<p>The University of Michigan said its preliminary consumer sentiment index fell to 80.8 in the first half of this month &#8211; the lowest since February &#8211; from a final reading of 85.5 in June. Economists polled by Reuters had forecast the index would rise to 86.5.<\/p>\n<p>&quot;Consumers&#x27; complaints about rising prices on homes, vehicles, and household durables has reached an all-time record,&quot; Richard Curtin, the survey director, said in a statement.<\/p>\n<p>The survey&#x27;s gauge of current economic conditions also fell to a reading of 84.5, the lowest since August 2020, from 88.6 in June. Its measure of consumer expectations slid to 78.4, the lowest since February, from 83.5.<\/p>\n<p>The survey&#x27;s one-year inflation expectation shot to the highest level since August 2008 at 4.8%, up from 4.2%, while its five-year inflation outlook ticked up to 2.9% from 2.8% in June.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/07\/16\/us-consumer-sentiment-drops-in-early-july-on-inflation-fears-.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. consumer sentiment fell sharply and unexpectedly in early July to the lowest level in five months as inflation worries dented confidence in the economic [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":118338,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. consumer sentiment drops in early July on inflation fears - 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